The TPP (Trans- Pacific
Partnership) is a multinational trade agreement between 12 countries namely,
USA, Australia, Brunei Darussalam, Canada, Malaysia, Mexico, New Zealand, Peru,
Singapore, Vietnam and Japan.
Each nation wanted to end the
negotiation in 2012, but there were a few issues such as agriculture, Intellectual
Property and investments which caused the negotiations to continue.
South Korea did not participate
in the 2006 agreement, but showed interest in entering the TPP agreement. The other
countries interested in the agreement are Taiwan, the Philippines and Colombia
as of 2010; Thailand and Laos as of 2012; Indonesia, Cambodia, Bangladesh and
India as of 2013.
The RCEP (Regional Comprehensive
Economic Partnership is another FTA negotiation that has developed among 16
countries; the 10 members of ASEAN (Brunei, Cambodia, Indonesia, Laos, Malaysia,
Myanmar, the Philippines, Singapore, Thailand and Vietnam) and the six countries
with which ASEAN has existing Free Trade Agreements (FTA) – Australia, China,
India, Japan, Korea and New Zealand. In relation to RCEP these six non-ASEAN
countries are known as the ASEAN Free Trade Partners. In between these
countries seven have already signed the TPP Agreement and the others are
interested in the TPP membership. So we can presume that these two agreement
member countries will come under one umbrella to create new vast free trade
zone.
-Atanu Mistry
-Atanu Mistry